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Temasek Bid for Property Unit
May Muddle UOB's Divestiture

By

Hasan Jafri and

Pang Ai Lin Dow Jones Newswires

Updated May 5, 2004 12:01 a.m. ET

SINGAPORE -- Temasek Holdings Pte. Ltd. made a hostile bid valued at about 710 million Singapore dollars, or about US$420 million, for United Overseas Bank Ltd.'s property arm -- a move that could scuttle UOB's own plan to divest itself of the unit and give the state investment company a stake in one of Singapore's top lenders.